Small Business Lending

1071 Filing Instruction Guide

Demo page for the latest online FIG features - created by the 1071 technical team. This page does not reflect actual 1071 FIG content.

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1. What is the FIG?

What is Lorem Ipsum?

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Why do we use it?

It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using 'Content here, content here', making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for 'lorem ipsum' will uncover many web sites still in their infancy. Various versions have evolved over the years, sometimes by accident, sometimes on purpose (injected humour and the like).

Where does it come from?

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32.

2. Filing Process Overview

This section provides instructions on entering data in the loan/application register for HMDA data collected in 2022. This document is not a substitute for Regulation C. Refer to Regulation C for a complete explanation of the reporting requirement for each data field.

2.1. About the 1071 platform

Filers will submit their 1071 data using a web interface. Information regarding the 1071 Platform can be located at: https://ffiec.cfpb.gov.

We recommend that 1071 filers use a modern browser, such as the latest version of Google Chrome™, Mozilla® Firefox®, Internet Explorer® 11, Microsoft Edge™, or other modern browsers.

The 1071 Platform will walk you through the loan/application register filing process.

Certification will also occur within the 1071 Platform. An authorized representative of your institution with knowledge of the data submitted shall certify to the accuracy and completeness of the data submitted.

2.2. Financial institution identifying information

Requirement §1002.109(b) of the proposed rulemaking covers the list of identifying information that financial institutions are required to report, but does not specify exactly how or when that data is to be reported, only that it must be associated with each submission. The specific instructions to FIs for how to submit identifying information will be covered by the FIG. We did not ask detailed questions about submitting FI identifying information in user research sessions, instead our initial proposal is based on a goal of incorporating the collection of FI identifying information into existing data submission steps, to minimize the number of times filers are expected to provide new information, and to take advantage of the expectation that this information will usually not change much from year to year.

Users submit FI info each year, alongside their SBLAR, as part of their filing. This gives CFPB a snapshot of each FI’s “profile” each filing year. Users may enter and update FI info at any time after the filing year becomes available in the system. They must certify their FI info in order to submit it (similar to the SBLAR). Like SBLAR, they may modify and re-certify after filing season is over, to ensure high data quality.

In order to make FI info easy and streamlined for FIs to submit, the system will pre-populate all fields with known values. The FI info screen will show any info entered this filing year, if any. Any remaining fields will show the FI info from the previous filing year, if that exists. If the FI has not filed before, the system will pull in any known data from CFPB data sources such as the MED.

The system will retain the FI info each time it is updated, along with the filing year it is associated with, the user who updated it, and a timestamp. For a given filing year, the most recently-certified FI info is considered canonical.

The user may edit almost any data point in the FI info, but not the LEI. Since the LEI is the primary key that differentiates FIs in the system, it cannot be changed. Instead, if a FI has a new LEI, we will consider it a new FI, so we will create a new FI record in the system and re-affiliate its users to it.

2.3. Certification

As part of the submission process, an authorized representative of your institution with knowledge of the data submitted shall certify to the accuracy and completeness of the data submitted. Filers will not fax or e-mail the signed certification.

If the SBLAR passes validation, the user may certify the submission. Once the SBLAR is certified, the system sends notification of that action to all users for that FI. After a filing is certified, users for the FI may still upload files, enter records, discard files, and add records to the system. If they do so and certify the SBLAR again, the new data submitted will replace the previously-submitted set of data in the canonical data set.

3. Creating a 1071 submission file

The following information describes the format used when filing HMDA data with the Bureau.

3.1. Online data submission

The system will offer multiple methods to enter loan application records for filing. Methods: (a) upload a file of records in a specified format, (b) upload a set of records as structured JSON via the platform API. These methods may be used in any combination any number of times until the user is finished uploading records. In all methods, each action (upload, discard, certify) will be associated with the user taking the action and the time and date of the action.

The two methods will share a common validation process. Upon upload, each record will be parsed and saved to the system as a loan application record. If the records cannot be parsed successfully, the user receives a descriptive notification of the error and where it occurred, and no records are saved. After parsing, the records go through a validation process (described in the Validation section below) where each record is checked for validity. The system notifies the user of all validity checks that failed, if any. If the file had any failures, it is invalid and can’t be added to the SBLAR. If the file had any validity warnings, the filer must acknowledge them in order to add the file to the SBLAR.

The user may add any valid files to their SBLAR. The user may discard files that are not valid or that they do not want to include in the SBLAR (e.g. if they discover a mistake). Once the user indicates that their SBLAR is ready—that they have added all records for the filing year—the system performs validation checks that consider the entire SBLAR (instead of individual records, which were already validated in a previous step).

If the SBLAR passes validation, the user may certify the submission. Once the SBLAR is certified, the system sends notification of that action to all users for that FI. After a filing is certified, users for the FI may still upload files, enter records, discard files, and add records to the system. If they do so and certify the SBLAR again, the new data submitted will replace the previously-submitted set of data in the canonical data set.

3.2. File format

Given the accessibility needs and overall simplicity, CSV is the recommended file format for the initial phase of the SBL platform. While limitations exist, CSV presents the most convenient option for entities to provide structured data. Characteristics of the proposed CSV structure are as follows:

Each field will be separated by a comma (,)
Each record will be separated by a line break (CRLF)
The last record will not have a line break (this is an optional consideration but should be stated explicitly either way)
The first row of the file will contain a header separated by commas. The column names in the header will be defined in the Data Points/Filing Instruction Guide.
Double quotes will be used to encode fields with embedded commas or line breaks. Requiring all fields to use double quotes is optional but should be stated explicitly
Double quotes appearing within an already double quoted field should be escaped by a preceding double quote (eg “”)
Character encoding should most likely be UTF-8, however ASCII may be easier for legacy Excel users to produce.
Data points that allow multiple responses will be separated by semi colons (;) with no spaces

4. Data points

What follows is a comprehensive list of every data point in a 1071 file and what they cover

4.1. Unique loan identifier

Rule section: 107(a)(1)

Field 1: Unique loan identifier

Field 1: Unique loan identifier

Instructions

Enter a Unique Loan Identifier that:

Begins with the financial institution’s Legal Entity Identifier as defined in § 107(a)(1)
Follows the Legal Entity Identifier with up to 23 additional characters to identify the covered loan or application, which:
- May be letters, numerals, or a combination of letters and numerals;
- Must be unique within the financial institution; and
- Must not include any information that could be used to directly identify the applicant or borrower.
Field type: Text
Required for all loan/application records

Example

10BX939C5543TQA1144M999143938

Validations

Must be in text form, not exceeding 45 characters
Must not be left blank

4.2. Application date

Rule section: 107(a)(2)

Field 2: Application date

Field 2: Application date

Instructions

Enter, in numeral form, the date the application was received or the date shown on the application form by year, month, and day, using YYYYMMDD format.

Field type: Date
Required for all loan/application records.

Example

For July 21, 2024, enter 20240721

Validations

Must be in numeral form in YYYYMMDD format
Must not be left blank

4.3. Application method

Rule section: 107(a)(3)

Field 3: Application method

Field 3: Application method

Instructions

Indicate the means by which the applicant submitted the application by entering a code from the specified list of values.

Field type: Choice
Required for all loan/application records

Valid values	Codes
1	Code 1 - In-person
2	Code 2 - Telephone
3	Code 3 - Online
4	Code 4 - Mail

Validations

Must equal 1, 2, 3 or 4
Must not be left blank

4.4. Application recipient

Rule section: 107(a)(4)

Field 4: Application recipient

Field 4: Application recipient

Instructions

Indicate the application recipient by entering a code from the specified list of values.

Field type: Choice
Required for all loan/application records

Valid values	Codes
1	Code 1 – The applicant submitted the application directly to the FI or its affiliate
2	Code 2 – The applicant submitted the application indirectly to the FI via a third party

Validations

Must equal 1 or 2
Must not be left blank

4.5. Credit type

Rule Section: 107(a)(5)

Credit product

Type of guarantee

Loan Term

Field 5: Credit product

Instructions

Indicate the credit product by entering a code from the specified list of values.

Field type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
1	Code 1 - Term loan—unsecured
2	Code 2 - Term loan—secured
3	Code 3 - Line of credit—unsecured
4	Code 4 - Line of credit—secured
5	Code 5 - Credit card
6	Code 6 - Merchant cash advance
7	Code 7 - Other sales-based financing transaction
8	Code 8 – Other (specify in text below)
88	Code 88 - Not provided by applicant and otherwise undetermined	Enter Code 88 if the credit product is not provided by applicant and is otherwise undetermined

Validations

Must equal 1, 2, 3, 4, 5, 6, 7, 8, or 88
Must not be left blank

Field 6: Free form text field for other credit products

Instructions

Specify in text the Other Credit Product if Code 8 is entered.

Field type: Text
Required if Credit Type: Credit Product is Code 8. Leave blank if Code 8 is not entered

Validations

Must be in text form.

Field 7: Type of guarantee

Instructions

Indicate the type or types of guarantee by entering up to five codes from the specified list of values. If there is more than one Type of Guarantee, enter up to five, in any order, separated by semicolons.

Field type: Multiple Choice
Required for all loan/application records

Example

For FHA insurance, enter 7.
For an owner(s)'s personal guarantee, USDA guarantee, and other federal guarantee, enter 1;6;9.

Valid values	Code
1	Code 1 - Personal guarantee – owner(s)
2	Code 2 - Personal guarantee—non-owner(s)
3	Code 3 - SBA guarantee—7(a) program
4	Code 4 - SBA guarantee—504 program
5	Code 5 - SBA guarantee—other
6	Code 6 - USDA guarantee
7	Code 7 - FHA insurance
8	Code 8 - Bureau of Indian Affairs guarantee
9	Code 9 - Other Federal guarantee
10	Code 10 - State or local government guarantee
11	Code 11 - Other guarantee (specify in text below)
12	Code 12 - No guarantee

Validations

Must equal up to five of the following: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, or 12
Must not be left blank
Must not exceed five codes entered

Field 8: Free form text field for other guarantee

Instructions

Specify in text the Other Guarantee if Code 11 is entered. If there is more than one Other Guarantee entered, separate each one by a semicolon. Otherwise, leave this data field blank.

Field Type: Text
Conditionally required if Type of Guarantee is Code 11. Leave blank if Code 11 is not entered

Validations

Must be in text form

Field 9: Loan term: N/A flag

Instructions

Indicate whether Loan Term is applicable for this application for credit by entering a code from the specified list of values.

Field type: Single response
Required for all loan/application records

Valid values	Codes
0	Code 0 – Applicable
99	Code 99 – Not Applicable

Validations

Must equal 0 or 99
Must not be left blank

Field 10: Loan term

Instructions

Enter, in numerical form, the number of months in the loan term for products that have a loan term.

Field type: Numeric
Conditionally required if Field 9: Loan Term: N/A Flag is Code 0. Leave blank if Code 0 is not entered

Example

For a loan term of 36 months, enter 36

Validations

If present, must be a whole number greater than zero.

4.6. Credit purpose

Rule section: 107(a)(6)

Credit purpose

Field 11: Credit purpose

Instructions

Indicate the credit purpose(s) by entering a code from the specified list of values. If there is more than one Credit Purpose, enter up to three, in any order, separated by a semicolon.

Field type: Multiple Choice
Required for all loan/application records

Example

For purchase, refinance, or rehabilitation/repair of equipment, enter 6.
For business acquisition and line increase, enter 10;12.

Valid values	Codes	Instructions
1	Code 1 - Purchase, construction/improvement, or refinance of owner-occupied dwelling(s)
2	Code 2 - Purchase, construction/improvement, or refinance of non-owner-occupied dwelling(s)
3	Code 3 - Purchase, construction/improvement, or refinance of non-owner occupied, non-dwelling real estate
4	Code 4 - Purchase, construction/‍‌improvement, or refinance of owner-occupied, non-dwelling real estate
5	Code 5 - Purchase, refinance, or rehabilitation/repair of motor vehicle(s) (including light and heavy trucks)
6	Code 6 - Purchase, refinance, or rehabilitation/repair of equipment
7	Code 7 - Working capital (includes inventory or floor planning)
8	Code 8 - Business start-up
9	Code 9 - Business expansion
10	Code 10 - Business acquisition
11	Code 11 - Refinance existing debt (other than refinancings listed above)
12	Code 12 - Line increase
13	Code 13 - Other (specify in text below)
88	Code 88 - Not provided by applicant and otherwise undetermined	Enter Code 88 if the credit purpose for the application is not known
99	Code 99 - Not applicable	Enter Code 99 for a credit product that generally has numerous potential purposes, such as a credit card.

Validations

Must equal up to three of the following: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 88, or 99
Must not be left blank
Must not exceed three codes

Field 12: Free form text field for other credit purpose

Instructions

Specify in text the Other Credit Purpose if Code 13 is entered. Do not enter more than one Other Credit Purpose. Otherwise, leave this data field blank.

Field type: Text
Conditionally required if Field 11: Credit Purpose is Code 0. Leave blank if Code 0 is not entered

Validations

Must be in text form.

4.7. Amount applied for

Rule section: 107(a)(7)

Amount applied for

Field 13: Amount applied for: N/A or NP flag

Instructions

Indicate whether Amount Applied For is provided by entering a code from the specified list of values.

Field type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
0	Code 0 – Applicable and Provided
88	Code 88 – Applicable and Not Provided	Enter Code 88 if the product applied for does involve a specific amount requested or underwritten, but the amount requested or underwritten is not provided by the applicant and is not otherwise undetermined.
99	Code 99 – Not Applicable	Enter Code 99 if the product applied for does not involve a specific amount requested or underwritten.

Field 14: Amount applied for

Instructions

Enter one of the following:

The dollar amount for initial amount of credit/credit limit requested by applicant at the application stage or later; or
If application is in response to a firm offer that specifies an amount, the dollar amount of the firm offer; or
If applicant did not request a particular amount but FI underwrites for a specific amount, the dollar amount underwritten; or
If applicant requested a range of dollar amounts, the midpoint of that range; or
If application is a request for additional amounts on an existing account, the dollar amount of additional credit requested
Field type: Numeric
Conditionally required if Amount Applied For: NA/NP Flag is Code 0. Leave blank if Code 0 is not entered

Example

For $12,345, enter 12345

Validations

Must be in numeric form

4.8. Amount approved or originated

Rule section: 107(a)(8)

Field 15: Amount approved or originated

Field 15: Amount approved or originated

Instructions

Enter one of the following:

For a closed-end origination, the amount of the originated loan for a closed-end origination; or
For a closed-end application, the highest amount approved if the application was approved but not accepted; or
For an open-end origination, the amount of the credit limit approved for the originated loan; or
For an open-end application, the highest amount approved if the application was approved but not accepted
Field type: Numeric
Conditionally required if Field 16: Action Taken is Code 1 or 2. Leave blank if Codes 1 or 2 are not entered

Validations

Must be in numeric form

4.9. Action taken

Rule section: 107(a)(9)

Field 16: Action taken

Field 16: Action taken

Instructions

Indicate whether the application was Originated, Approved but not accepted, Denied, Withdrawn by applicant, or Incomplete by entering a code from the specified list.

Field Type: Choice
Required for all loan/application records

Valid values	Codes
1	Code 1 - Originated
2	Code 2 - Approved but not accepted
3	Code 3 - Denied
4	Code 4 - Withdrawn by applicant
5	Code 5 - Incomplete

Validations

Must equal 1, 2, 3, 4, or 5.
Must not be left blank.

4.10. Action taken date

Rule section: 107(a)(10)

Field 17: Action taken date

Field 17: Action taken date

Instructions

Enter, in numeral form, the date the action was taken by year, month, and day, using YYYYMMDD format.

Field type: Date
Required for all loan/application records

Example

For July 22, 2024, enter 20240722

Validations

Must be in numeral form in YYYYMMDD format
Must not be left blank

4.11. Denial reason(s)

Rule Section: 107(a)(11)

Denial reason(s)

Field 18: Denial reason(s)

Instructions

For a denied application, indicate the reason(s) for denial by entering up to four principal reasons for denial from the specified list of values.

Field Type: Multiple Choice
Required for all loan/application records

Example

If Cashflow, enter 4.
If Cashflow, Collateral, Time in business, and Government criteria, enter 4;5;6;7 or 7;5;6;4 (or any other order of these numbers separated by semicolons).

Valid values	Codes	Instructions
1	Code 1 - Credit characteristics of the business
2	Code 2 - Credit characteristics of the principal owner(s) or guarantor(s)
3	Code 3 - Use of loan proceeds
4	Code 4 - Cashflow
5	Code 5 - Collateral
6	Code 6 - Time in business
7	Code 7 - Government criteria
8	Code 8 - Aggregate exposure
9	Code 9 - Unverifiable information
10	Code 10 – Other (specify in text below)
99	Code 99 – Not Applicable	Enter Code 99 if application was not denied (e.g., loan is originated by the financial institution)

Validations

Must equal some combination of the following: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, or 99
Codes must be separated by semicolons ;
Must not be left blank

Field 19: Other free form text field for denial reason(s)

Instructions

Specify in text the Other Denial Reason(s) if Code 10 is entered. If there is more than one Other Denial Reason entered, separate each one by a semicolon.

Field type: Text
Conditionally required if Field 18: Denial Reason(s) is Code 10. Leave blank if Code 10 is not entered

Example

Concerns about effects of applicant's business on climate change; anticipated decline of the industry the applicant's business is in

Validations

Must be in text form.

4.12. Pricing information

Rule section: 107(a)(12)

Fixed rate transaction

Variable rate transaction

Total origination charges

Field 20: Fixed rate: Interest rate: N/A flag

Instructions

Indicate whether the Fixed rate: Interest rate data element is applicable by entering a code from the specified list of values.

Field type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
0	Code 0 - Applicable
99	Code 99 - Not applicable	Enter Code 99 if: The application is denied, withdrawn, or incomplete, or The approved loan is not fixed rate

Valid values

Codes

Instructions

0

Code 0 - Applicable

99

Code 99 - Not applicable

Enter Code 99 if:

The application is denied, withdrawn, or incomplete, or

The approved loan is not fixed rate

Validations

Must equal 0 or 99
Must not be left blank

Field 21: Fixed rate: Interest rate

Instructions

For originated credit and credit that is approved but not accepted, if a fixed rate transaction, enter, as a percentage, to at least three (3) decimal places, the interest rate. Numbers calculated to beyond three (3) decimal places may either be reported beyond three (3) decimal places or rounded or truncated to three (3) decimal places. Decimal place trailing zeros may be either included or omitted.

Field type: Numeric
Conditionally required if Field 20: Fixed rate: Interest rate: N/A flag is Code 0. Leave blank if Code 0 is not entered

Example values

If the fixed interest rate is 4.125%, enter 4.125
If 4.500%, enter 4.5, 4.50, or 4.500

Validations

If present, must be a numeric value

Field 22: Variable rate transaction: Margin: N/A flag

Instructions

Indicate whether the Variable rate transaction: Margin data element is applicable by entering a code from the specified list of values.

Field type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
0	Code 0 - Applicable
1	Code 1 - Not applicable	Enter Code 1 if: The application is denied, withdrawn, or incomplete, or The transaction has no interest rate, or The approved loan is not variable rate

Valid values

Codes

Instructions

0

Code 0 - Applicable

1

Code 1 - Not applicable

Enter Code 1 if:

The application is denied, withdrawn, or incomplete, or

The transaction has no interest rate, or

The approved loan is not variable rate

Validations

Must equal 0 or 1
Must not be left blank

Field 23: Variable rate transaction: Margin

Instructions

For originated credit and credit that is approved but not accepted, if a variable rate transaction, enter, as a percentage, to at least three (3) decimal places, the interest rate. Numbers calculated to beyond three (3) decimal places may either be reported beyond three (3) decimal places or rounded or truncated to three (3) decimal places. Decimal place trailing zeros may be either included or omitted.

Field type: Numeric
Conditionally required if Field 22: Variable rate transaction: Margin: N/A flag is Code 0. Leave blank if Code 0 is not entered

Example values

If the fixed interest rate is 2.525%, enter 2.525
If 2.500%, enter 2.5, 2.50, or 2.500

Validations

If present, must be a numeric value

Field 24: Variable rate transaction: Index name

Instructions

For originated credit and credit that is approved but not accepted, if a variable rate transaction, enter a code to indicate the index name from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
1	Code 1 - Wall Street Journal Prime
2	Code 2 - 6-month CD rate
3	Code 3 - 1-year T-Bill
4	Code 4 - 3-year T-Bill
5	Code 5 - 5-year T-Note
6	Code 6 - 12-month average of 10-year T-Bill
7	Code 7 - Cost of Funds Index - National
8	Code 8 - Cost of Funds Index - 11th District
9	Code 9 - Other (specify in text in the next field)
99	Code 99 - Not Applicable	Enter Code 99 if: The application is denied, withdrawn, or incomplete, or The transaction has no interest rate, or The approved loan is not variable rate

Validations

Must equal 1, 2, 3, 4, 4, 5, 6, 7, 8, 9, or 99
Must not be left blank

Field 25: Variable rate transaction: Index name: Other

Instructions

Specify in text the Other Index Name if Code 9 is entered.

Field type: Text
Conditionally required if Field 24: Variable rate transaction: Index name is Code 9. Leave blank if Code 9 is not entered

Validations

Must not exceed 100 characters in length.

Field 26: Variable rate transaction: Index value

Instructions

For originated credit and credit that is approved but not accepted, if a variable rate transaction, enter, as a percentage, to at least three (3) decimal places, the index value. Numbers calculated to beyond three (3) decimal places may either be reported beyond three (3) decimal places or rounded or truncated to three (3) decimal places. Decimal place trailing zeros may be either included or omitted.

Field type: Numeric
Conditionally required if Pricing Information: Variable Rate Transaction: Index Name is not Code 99. Leave blank if Code 99 is entered

Example

If 1.025%, enter 1.025
If 3.100%, enter 3.1

Validations

If present, must be a numeric value

Field 27: Total origination charges

Instructions

For originated credit and credit that is approved but not accepted, enter, in dollars, the amount of the total origination charges. Enter 0 if there are no origination charges associated with the application or if the application is denied, withdrawn, or incomplete.

Field type: Numeric
Required for all loan/application records

Example

If $2,500, enter 2500 or 2500.00
If $2,582.91, enter 2582.91
If $0, enter 0

Validations

If present, must be a numeric value

Field 28: Amount of total broker fees

Instructions

For originated credit and credit that is approved but not accepted, enter, in dollars, the amount of the total broker fees. Enter 0 if there are no broker fees associated with the application or if the application is denied, withdrawn, or incomplete.

Field type: Numeric
Required for all loan/application records

Example

If $1,125, enter 1125 or 1125.00
If $1,125.76, enter 1125.76
If $0, enter 0

Validations

If present, must be a numeric value

Field 29: Amount of total non-interest charges to be imposed over the first annual period

Instructions

For originated credit and credit that is approved but not accepted, enter, in dollars, the amount of the total non-interest charges scheduled to be imposed over the first annual period. Enter 0 if there are no non-interest charges scheduled to be imposed over the first annual period or if the application is denied, withdrawn, or incomplete.

Field Type: Numeric
Required for all loan/application records

Example

If $1,034, enter 1034 or 1034.00
If $1,034.97, enter 1034.97
If $0, enter 0

Validations

If present, must be a numeric value

Field 30: MCA: Difference between amount advanced and amount to be repaid: N/A flag

Instructions

Indicate whether Pricing Information: MCA: Difference Between Amount Advanced and Amount to be Repaid is applicable by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
0	Code 0 – Applicable
99	Code 99 – Not Applicable	Enter code 99 if: The application is denied, withdrawn, or incomplete, or The approved loan is not a merchant cash advance or other sales-based financing

Valid values

Codes

Instructions

0

Code 0 – Applicable

99

Code 99 – Not Applicable

Enter code 99 if:

The application is denied, withdrawn, or incomplete, or

The approved loan is not a merchant cash advance or other sales-based financing

Validations

Must equal 0 or 99
Must not be left blank

Field 31: MCA: Difference between amount advanced and amount to be repaid

Instructions

For originated credit and credit that is approved but not accepted, if a merchant cash advance or other sales-based financing transaction, enter, in dollars, the difference between the amount advanced and the amount to be repaid.

Field Type: Numeric
Conditionally required if Field 30: MCA: Difference Between Amount Advanced and Amount to be Repaid: N/A Flag is 0. Leave blank if Code 0 is not entered

Example

If $3,500, enter 3500 or 3500.00
If $3,527.14, enter 3527.14
If $0, enter 0

Validations

If present, must be a numeric value

Field 32: Prepayment penalty could be imposed

Instructions

For originated credit and credit that is approved but not accepted, enter whether a prepayment penalty could be included under current policies and procedures by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
1	Code 1 – Yes
2	Code 2 – No
99	Code 99 – Not Applicable	Enter Code 99 if the application is denied, withdrawn, or incomplete

Validations

Must equal 1, 2, or 99
Must not be left blank

Field 33: Prepayment penalty exists

Instructions

For originated credit and credit that is approved but not accepted, indicate whether the terms of the transaction include a prepayment penalty by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
1	Code 1 – Yes
2	Code 2 – No
99	Code 99 – Not Applicable	Enter Code 99 if the application is denied, withdrawn, or incomplete

Validations

Must equal 1, 2, or 99
Must not be left blank

4.13. Census tract

Rule section: 107(a)(13)

Census tract

Field 34: Type of address

Instructions

Enter the type of address or location used to determine the census tract by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes
1	Code 1 – Address or location where the loan proceeds will principally be applied
2	Code 2 – Address or location of borrower’s main office or headquarters
3	Code 3 - Another address or location associated with the applicant.
88	Code 88 – Address was not provided by applicant and is otherwise undetermined.

Validations

Must equal 1, 2, 3, or 88
Must not be left blank

Field 35: Tract number

Instructions

Enter the 11-digit census tract number as defined by the U.S. Census Bureau of one of the following:

Address where the loan proceeds will principally be applied, if known; or
If the proceeds address is not known, location of borrower’s main office or headquarters; or
If neither of those addresses are known, another address or location associated with the applicant

Do not use decimals.

Field Type: Numeric
Conditionally required if Field 34: Type of address is Code 1, 2, or 3. Leave blank if Code 88 is entered

Example

06037264000 (a census tract within Los Angeles County, CA)

Validations

If present, must be an 11-digit number in numeric form

4.14. Gross annual revenue

Rule section: 107(a)(14)

Gross annual revenue

Field 36: Gross annual revenue: NP flag

Instructions

Indicate whether GAR is provided by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
0	Code 0 – Provided
88	Code 88 – Not Provided	Enter Code 88 if GAR is not provided by applicant and is otherwise undetermined.

Validations

Must equal 0 or 88
Must not be left blank

Field 37: Gross annual revenue

Instructions

Enter the dollar amount of the applicant’s Gross Annual Revenue (GAR) during its last fiscal year prior to when the information is collected.

Field Type: Numeric
Conditionally required if Field 37: NP Flag is Code 0. Leave blank if Code 0 is not entered

Example

If $855,430, enter 855430 or 855430.00
If $855,430.17, enter 855430.17
If $0, enter 0

Validations

If present, must be in numeric form

4.15. North American Industry Classification System (NAICS) code

Rule section: 107(a)(15)

North American Industry Classification System (NAICS) code

Field 38: North American Industry Classification System (NAICS) code: NP flag

Instructions

Indicate whether NAICS Code is provided by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
0	Code 0 – Provided
88	Code 88 – Not Provided	Enter Code 88 if NAICS Code is not provided by applicant and is otherwise undetermined.

Validations

Must equal 0 or 88
Must not be left blank

Field 39: North American Industry Classification System (NAICS) code

Instructions

Enter the six-digit NAICS code appropriate for the applicant.

Field Type: Numeric
Conditionally required if Field 38: North American Industry Classification System (NAICS) Code: NP Flag is Code 0. Leave blank if Code 0 is not entered

Example

311230 (a business engaged in breakfast cereal manufacturing)

Validations

If present, must be in numeric form

4.16. Number of workers

Rule section: 107(a)(16)

Number of workers

Field 40: Number of workers: NP flag

Instructions

Indicate whether Number of Workers is provided by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
0	Code 0 – Provided
88	Code 88 – Not Provided	Enter Code 88 if Number of Workers is not provided by applicant and is otherwise undetermined.

Field 41: Number of workers

Instructions

Enter the number of workers. Includes full-time, part-time, and seasonal workers as well as contractors working primarily for the applicant but does not include principal owners.

Field Type: Numeric
Conditionally required if Field 40: Number of Workers: NP Flag is Code 0. Leave blank if Code 0 is not entered

Example

If 62, enter 62
If 0, enter 0

Validations

If present, must be in numeric form

4.17. Time in business

Rule section: 107(a)(17)

Time in business

Field 42: Time in business: Type of response

Instructions

Indicate whether the applicant provided information on Time in Business by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes
1	Code 1 – Time in Business is provided by applicant
2	Code 2 – Applicant has been in business less than one year
3	Code 3 – Applicant has not started business yet
88	Code 88 – Time in Business is not provided by applicant and is otherwise undetermined by the lender

Validations

Must equal 1, 2, 3, or 88
Must not be left blank

Field 43: Time in business

Instructions

Enter the applicant's time in business relied on in making the credit decision, expressed in whole numbers. If time in business was not relied on in making the credit decision, enter the number of years the applicant has been operating the business, rounding down to the nearest whole number of years.

Field Type: Numeric
Conditionally required if Time in Business: Type of Response is Code 1. Leave blank if Code 1 is not entered

Example

For 12 years and 0 months in business, enter 12
For 12 years and 11 months in business, enter 12

Validations

If present, must be in numeric form

4.18. Minority-owned business status

Rule section: 107(a)(18)

Minority-owned business status

Field 44: Minority-owned business status: Status

Instructions

Indicate whether the applicant is a minority-owned business by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes
1	Code 1 – Yes
2	Code 2 – No
3	Code 3 – The applicant responded that they did not wish to provide this information
4	Code 4 – The applicant did not respond

Validations

Must equal 1, 2, 3, or 4
Must not be left blank

Field 45: Minority-owned business status: Previously collected data

Instructions

Indicate whether the applicant’s minority-owned business status is based on previously collected data by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes
1	Code 1 – Yes
2	Code 2 – No

Validations

Must equal 1 or 2
Must not be left blank

4.19. Women-owned business status

Rule section: 107(a)(19)

Women-owned business status

Field 46: Women-owned business status: Status

Instructions

Indicate whether the applicant is a women-owned business by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes
1	Code 1 – Yes
2	Code 2 – No
3	Code 3 – The applicant responded that they did not wish to provide this information
4	Code 4 – The applicant did not respond

Validations

Must equal 1, 2, 3, or 4
Must not be left blank

Field 47: Women-owned business status: Previously collected data

Instructions

Indicate whether the applicant’s woman-owned business status is based on previously collected data by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes
1	Code 1 – Yes
2	Code 2 – No

Validations

Must equal 1 or 2
Must not be left blank

4.20. Number of principal owners

Rule section: 107(a)(21)

Number of principal owners

Field 48: Number of principal owners: NP flag

Instructions

Indicate whether Number of Principal Owners is provided by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
0	Code 0 – Provided
88	Code 88 – Not Provided	Enter Code 88 if Number of Principal Owners is not provided by applicant and is otherwise undetermined.

Validations

Must equal 0 or 88
Must not be left blank

Field 49: Number of principal owners

Instructions

Enter the number of the applicant’s principal owners. If no principal owner has at least 25% ownership of the business, enter 0.

Field Type: Numeric
Conditionally required if Number of Principal Owners: NP Flag is Code 0. Leave blank if Code 0 is not entered

Example

For 1, 2, 3, or 4 principal owners, enter 1, 2, 3, or 4 respectively.

Validations

If present, must equal 1, 2, 3, or 4

4.21. Visual observation and/or surname

Rule section: 107(a)(20)

Field 50: Visual observation and/or surname

Field 50: Visual observation and/or surname

Instructions

Indicate whether ethnicity or race of at least one principal owner is based on visual observation and/or surname by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
1	Code 1 - Collected on the basis of visual observation and/or surname
2	Code 2 - Not collected on the basis of visual observation and/or surname	Enter Code 2 if the applicant has no principal owners.

Validations

Must equal 1 or 2
Must not be left blank

4.22. Previously collected data

Rule section: 107(a)(20)

Field 51: Previously collected data

Field 51: Previously collected data for ethnicity, race, or sex, of principal owner(s)

Instructions

Indicate whether any part of Ethnicity, Race, or Sex for any of the applicant’s principal owners is reported based on previously collected data by entering a code from the specified list of values.

Field Type: Choice
Required for all loan/application records

Valid values	Codes	Instructions
1	Code 1 – Reported based on previously collected data
2	Code 2 – Not reported based on previously collected data	Enter Code 2 if applicant has no principal owners.

Validations

Must equal 1 or 2
Must not be left blank

4.23. Principal owner 1

Race/sex/ethnicity data for principal owner 1.

Rule section: 107(a)(20)

Ethnicity of principal owner 1

Race of principal owner 1

Sex of principal owner 1

Field 52: Ethnicity of principal owner 1

Instructions

For the ethnicity of the applicant’s Principal Owner 1, enter, as appropriate a code or codes from the specified list of values. If an applicant indicates more than one ethnicity for a principal owner, enter each, in any order, separated by a semicolon.

Field Type: Multiple response
Conditionally required if there is at least one Principal Owner. Leave blank if the applicant has no principal owners

Example

If Mexican, enter 11
If Mexican and Puerto Rican, enter 11;12 or 12;11
If Mexican and the applicant responded that they did not wish to provide this information, enter 11

Valid values	Codes
1	Code 1 – Hispanic or Latino
11	Code 11 – Mexican
12	Code 12 – Puerto Rican
13	Code 13 – Cuban
14	Code 14 – Other Hispanic or Latino
2	Code 2 – Not Hispanic or Latino
3	Code 3 – The applicant responded that they did not wish to provide this information
77	Code 77 – The applicant responded in the free-form text field (specify in text below)
88	Code 88 – Information not provided by applicant in paper, electronic, or telephone/oral application.

Validations

If present, must equal 1, 11, 12, 13, 14, 2, 3, 77, or 88, or up to eight of those options separated by semicolons (;)
If Code 3 is reported, no other codes may be reported
If Code 88 is reported, no other codes may be reported

Field 53: Ethnicity of principal owner 1: Free form text field for other Hispanic or Latino

Instructions

Specify in text the Other Hispanic or Latino ethnicity if Code 14 is entered.

Field Type: Text
Conditionally required if Ethnicity of Principal Owner 1 is Code 4. Leave blank if Code 4 is not entered

Example

Guatemalan

Validations

If present, must be in text form with a width of up to 100 characters

Field 54: Race of principal owner 1

Conditionally required

Required if there is at least one Principal Owner. Leave blank if there are no Principal Owners. If an applicant indicates more than one race for a principal owner, enter each, in any order, separated by a semicolon.

Field Type: Multiple Choice

Instructions

For the race of the applicant’s Principal Owner 1, enter, as appropriate, a code or codes from the specified list of values.

Example

For a principal owner 1 that is part Ethiopian and part Korean, enter 25;32 or 32;25

Valid values	Codes
1	Code 1 – American Indian or Alaska Native (specify in text below)
2	Code 2 – Asian
21	Code 21 – Asian Indian
22	Code 22 – Chinese
23	Code 23 – Filipino
24	Code 24 – Japanese
25	Code 25 – Korean
26	Code 26 – Vietnamese
27	Code 27 – Other Asian (specify in text below)
3	Code 3 – Black or African American
31	Code 31 – African American
32	Code 32 – Ethiopian
33	Code 33 – Haitian
34	Code 34 – Jamaican
35	Code 35 – Nigerian
36	Code 36 – Somali
37	Code 37 – Other Black or African American (specify in text below)
4	Code 4 – Native Hawaiian or Other Pacific Islander
41	Code 41 – Native Hawaiian
42	Code 42 – Guamanian or Chamorro
43	Code 43 – Samoan
44	Code 44 – Other Pacific Islander (specify in text below)
5	Code 5 – White
6	Code 6 – The applicant responded that they did not wish to provide this information
71	Code 71 – The applicant responded in the free-form text field for American Indian or Alaska Native Enrolled or Principal Tribe
72	Code 72 – The applicant responded in the free-form text field for Other Asian
73	Code 73 – The applicant responded in the free-form text field for Other Black or African
74	Code 74 – The applicant responded in the free-form text field for Other Pacific Islander
88	Code 88 – Information not provided by applicant in paper, electronic, or telephone/oral application

Validations

If present, must equal some combination of 1, 2, 21, 22, 23, 24, 25, 26, 27, 3, 31, 32, 33, 34, 35, 36, 37, 4, 41, 42, 43, 44, 5, 6, 71, 72, 73, 74, and/or 88, separated by semicolons (;)

Field 55: Race of principal owner 1: Free form text field for American Indian or Alaska Native enrolled or principal tribe

Conditionally required

Required if Race of Principal Owner 1 is Code 71. Leave blank if Code 71 is not entered.

Field Type: Text

Instructions

Specify in text the Principal Owner 1’s American Indian or Alaska Native Enrolled or Principal Tribe if provided by the applicant. Otherwise, leave this data field blank.

Example

Navajo

Validations

If present, must be in text form with a width of up to 100 characters

Field 56: Race of principal owner 1: Free form text field for other Asian

Conditionally required

Required if Race of Principal Owner 1 is Code 72. Leave blank if Code 72 is not entered.

Field Type: Text

Instructions

Specify in text the Principal Owner 1’s Other Asian Race(s) if provided by the applicant. Otherwise, leave this data field blank.

Example

Cambodian

Validations

If present, must be in text form with a width of up to 100 characters

Field 57: Race of principal owner 1: Free form text field for other Black or African American

Conditionally required

Required if Race of Principal Owner 1 is Code 73. Leave blank if Code 73 is not entered.

Field Type: Text

Instructions

Specify in text the Principal Owner: 1’s Other Black or African American race(s) if provided by the applicant. Otherwise, leave this data field blank.

Example

Malawian

Validations

If present, must be in text form with a width of up to 100 characters

Field 58: Race of principal owner 1: Free form text field for other Pacific Islander

Conditionally required

Required if Race of Principal Owner 1 is Code 74. Leave blank if Code 74 is not entered.

Field Type: Text

Instructions

Specify in text the Principal Owner 1’s Other Pacific Islander race(s) if provided by the applicant. Otherwise, leave this data field blank.

Example

Marshallese

Validations

If present, must be in text form with a width of up to 100 characters

Field 59: Sex of principal owner 1

Conditionally required

Required if there is at least one Principal Owner. Leave blank if applicant has no principal owners.

Field Type: Multiple Choice

Instructions

For the sex of the applicant’s Principal Owner 1, enter, as appropriate, a code from the specified list of values. If an applicant indicates more than one sex for a principal owner, enter each, in any order, separated by a semicolon.

Example

If Male and Female, enter 1;2 or 2;1

Valid values	Codes
1	Code 1 – Male
2	Code 2 – Female
3	Code 3 – The applicant prefers to self-identify (specify in text below)
4	Code 4 – The applicant responded that they did not wish to provide this information
5	Code 5 – The applicant responded in the free-form text field
88	Code 88 – The applicant did not respond

Validations

If present, must equal some combination of 1, 2, 3, 4, 5, and/or 88

Field 60: Sex of principal owner 1: Free form text field for I prefer to self-identify

Conditionally required

Required if Sex of Principal Owner is code 5. Leave blank if Code 5 is not entered.

Field Type: Text

Instructions

Specify in text Principal Owner 1’s self-identified sex if provided.

Example

Nonbinary

Validations

If present, must be in text form with a width of up to 100 characters

4.24. Principal owner 2

Race/sex/ethnicity data for principal owner 2.

Rule section 107(a)(20)

Ethnicity of principal owner 2

Race of principal owner 2

Sex of principal owner 2

4.25. Principal owner 3

Race/sex/ethnicity data for principal owner 3.

Rule section 107(a)(20)

Field 70: Ethnicity of principal owner 3

Conditionally required

Required if there are at least three principal owners. Leave blank if the applicant has fewer than three principal owners.

Instructions

See Field 52: Ethnicity of principal owner 1

Field 71: Ethnicity of principal owner 3: Free form text field for other Hispanic or Latino

Conditionally required

Required if Principal Owner 3: Ethnicity is Code 4.

Leave blank if Code 4 is not entered

Instructions

See Field 53: Ethnicity of principal owner 1: Free form text field for other Hispanic or Latino

Field 72: Race of principal owner 3

5.1. Validations overview

Documentation will clearly lay out the distinction between classes of errors (e.g. Errors, Failures, Warnings, etc.) as well as the specific validation rules and suggestions on correcting issues. We will also focus UX and graphic design effort on presenting the validation results in a way that users can easily understand and resolve.

Once a file has been successfully parsed, the system will check individual records for data validity errors. In this step, issues specific to the type of data being submitted will be raised. These include data that is out of range (exceeds acceptable values) or of an improper type (text in numeric field, text in date field, etc.). It will be important to identify the record by its unique identifier, the data point name and specific validation error. Previewing the record or how the system parsed the data could also provide the filer insight into how to correct the submission.

5.2. List of validations

What will this section look like? Not sure yet. We'll need a way to make it visually make sense to vendors and compliance officers. It will probably have a lot of information, so we may find another way to break it into sections.

6. Where to get help

CFPB will provide regulatory implementation resources for filers and vendors, called 1071 Help. We will decide how to guide people to those resources in the future. There might be a list of resources and their descriptions here. Such as:

FAQ about the data collection
Resources specific to small filers
Guides for reporting various loan scenarios?
Contact info for the 1071 Help function

7. Paperwork Reduction Act

According to the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and, not withstanding any other provision of law, a person is not required to respond to a collection of information unless it displays a valid OMB control number. The OMB control number for this collection is 3170-0008. The time required to complete this information collection is estimated to average between 9,000 hours and 161 hours per response depending on the size of the institution, per response. The obligation to respond to this collection of information is mandatory per the Home Mortgage Disclosure Act 12 U.S.C. 2801–2810, as implemented by Consumer Financial Protection Bureau’s Regulation C, 12 CFR part 1003. Comments regarding this collection of information, including the estimated response time, suggestions for improving the usefulness of the information, or suggestions for reducing the burden to respond to this collection should be submitted to the Bureau at the Consumer Financial Protection Bureau (Attention: PRA Office), 1700 G Street NW, Washington, DC 20552, or by email to PRA@cfpb.gov. The other agencies collecting information under this regulation maintain OMB Control numbers for their collections as follows: Office of the Comptroller of the Currency (1557- 0159), the Federal Deposit Insurance Corporation (3064-0046), the Federal Reserve System (7100-0247), the Department of Housing and Urban Development (HUD) (2502-0529), the National Credit Union Administration (3133-0166).